Active Stocks: Metro-Goldwyn-Mayer Inc; McGraw Hill Financial Inc (NYSE:MHFI); Wynn Resorts, Limited (NASDAQ:WYNN)
Dallas, Texas, 09/24/2014 (ustrademedia) – Metro-Goldwyn-Mayer Inc announced yesterday that it has acquired a 55 percent controlling stake in two media and content development companies One Three Media and LightWorkers Media. The two firms are jointly owned by reality TV program host Mark Burnett and his better half Roma Downey in tandem with Hearst Corp.’s owned Hearst Entertainment. The consolidated firms would now be branded as United Artists Media Group. The new name for the venture would be the name sake of a 1919 coming together of renowned artists Charlie Chaplin, Mary Pickford, Douglas Fairbanks and D.W. Griffith to form a film studio. The financial terms of the deal were not disclosed.
The erstwhile publishing house and financial data provider McGraw Hill Financial Inc (NYSE:MHFI) announced yesterday that it has decided to hive off its construction business unit to a private equity and investment firm called Symphony Technology Group. The deal size is pegged to be in the $320 million range and is likely to be completed post mandatory statutory regulatory approvals by end of the last quarter of this calendar year. Since March of last year, McGraw Hill Financial Inc (NYSE:MHFI) has been working towards shedding its non core business and has been concentrating on positioning itself as a “financial-products and data provider.”
Wynn Resorts, Limited (NASDAQ:WYNN) got a clean chit from Macau’s anti-corruption agencies yesterday. The investigative agencies which looked into the local land deals authored and funded by the resort operator have deemed that they are fully satisfied that the deal is kosher and have recommended to the government that all further investigations into the allegations should be dropped forthwith. The news was first disclosed by the casino operators CEO Steve Wynn. The casino operator had indicated earlier this year, that it was fully cooperating with the government agencies who were investigating the circumstances and terms under which the company had secured land for building its new casino at the Cotai strip.